A Erik Haula buyout spans 4 years, has a cost of $3,033,333 and savings of $1,516,667. Haula is 33 years of age at the time of the buyout; therefore, the buyout ratio is 2/3. With $4,550,000 in salary remaining, the cost is $3,033,333, and the savings are $1,516,667. Buyouts span twice the length of the remaining years and because there are 2 years remaining in the contract, the buyout length is 4 years. The buyout cap hit is displayed in the Cap Hit Calculations table below.
Cost Calculations
BUYOUT DATE | BASE SALARY REMAINING | S.BONUS REMAINING | YEARS REMAINING | BUYOUT LENGTH | AGE | BUYOUT RATIO | TOTAL COST | TOTAL SAVINGS | ANNUAL COST |
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Jun. 15, 2024 | $4,550,000 | $1,000,000 | 2 | 4 | 33 | 2/3 | $3,033,333 | $1,516,667 | $758,333 |
Cap Hit Calculations
SEASON | INITIAL BASE SALARY | INITIAL CAP HIT | SIGNING BONUS | BUYOUT COST | POST-BUYOUT EARNINGS | SAVINGS | CAP HIT (NJD) |
2024-25 | $2,150,000 | $3,150,000 | $1,000,000 | $758,333 | $1,758,333 | $1,391,667 | $1,758,333 |
2025-26 | $2,400,000 | $3,150,000 | $0 | $758,333 | $758,333 | $1,641,667 | $1,508,333 |
2026-27 | $0 | $0 | $0 | $758,333 | $758,333 | -$758,333 | $758,333 |
2027-28 | $0 | $0 | $0 | $758,333 | $758,333 | -$758,333 | $758,333 |
TOTAL | $4,550,000 | $6,300,000 | $1,000,000 | $3,033,333 | $4,033,333 | $1,516,667 | $4,783,332 |